In midday commentary at Optionetics, I discussed some unusually heavy put activity in Zions Bancorp (ZION). A bit more than 25,000 of the out-of-money April 17 puts had changed hands during Wednesday’s session as shares made a breakout attempt from what I described as a well-crafted “W” weekly base complete with a handle. Priced at about $0.35 per contract and sporting very similar existing open interest, I went on to say the initiating